Cara Delevingne Covers V Magazine [V Magazine]A wig-wearing Cara Delevingne and her Valerian co-star Dane Dehaan landed the cover of V Magazine's latest issue, which hits newsstands Monday. The duo were photographed by the one and only Karl Lagerfeld for the "Space Age" cover story, in which Delevingne opens up to Derek Blasberg about her preference for doing her own stunts and her unusual audition process for director Luc Besson (it involved making animal sounds).

Seth Meyers to Host CFDA Fashion Awards [Pret-a-Reporter Inbox]Seth Meyers has been selected to return to the CFDA Fashion Awards as this year's host; he last hosted in 2012. The show will take place June 5 at The Manhattan Center's Hammerstein Ballroom. The Late Night host has long-standing ties to the fashion community: Vogue editor-in-chief Anna Wintour's daughter, Bee Schaffer, was a producer on his show, and Wintour herself made a few appearances to promote the Met Gala.

Proenza Schouler and Rodarte Land Guest Spots on Couture Calendar [WWD]American fashion brands Proenza Schouler and Rodarte have landed coveted guests spots on the couture week calendar in July. The labels - both recent New York Fashion Week defectors - were selected by France's Chambre Syndicale de la Haute Couture as guest designers, alongside three other international labels.

Puma Profits Up More Than 90 Percent in Q1 [Bloomberg]Puma profits are on the rise - again. The Kering-owned sportswear brand reported almost double profit for the first quarter, with net income up 92 percent. The good news is a result of fewer discounts and higher prices, part of the German brand's overall turnaround plan. The results come two weeks after rumors began to swirl that Kering is getting ready to sell the sports brand.

Azrias Lose Contract Dispute With BCBG [California Apparel News]Max and Lubov Azria's labor contract lawsuit over the termination of Lubov's employment at BCBG, the company which Max founded in 1989, has been thrown out by a bankruptcy court judge in New York. After BCBG filed for bankruptcy in February, Lubov was fired from her position as chief creative director - without the $7 million payout she believed she is entitled to. The disagreement over Lubov's termination stemmed from an out-of-court restructuring agreement with investors in 2015, at which time the Azrias handed over their sole equity in the company for a 20 percent stake. The Azrias argued that under the terms of the 2015 agreement, Lubov's employment was secured. The judge, apparently, did not see it that way.